CEOs at companies with more than $10 billion in annual revenue, the Wall Street Journal reported back in 2008, make twice as much in the United States as they do in Europe -- and nine times more in the United States than they do in Japan. The richest 1% of Americans have tripled their share of this country's income over the past 30 years.
OK, class is in session. It's Economics I, and I have some questions for my readers. Can anyone help me understand the blatant inequities above? If the 1% are the "job creators" whose prosperity will "trickle down" to the other 99%, why is unemployment so high, and why is the so-called recovery a jobless one? That's a flat-out contradiction.
Workers' unions are presently under attack in this country for their perceived undue influence in political affairs and for inflating members' salaries beyond sustainable levels. I would agree that unions and politics are ideally kept separate, but until this country's business sector refrains from exerting its influence on laws that are made and the people who make them, unions are a necessary counterpart to the corrosive influence of money on the body politic.